Dad: Son, what do you recommend to your friends?

Son: Hi Dad,

"Pay attention to Bitcoin and educate yourself." or "Invest in yourself, invest in Bitcoin."

Dad: Son, why exactly this recommendation?

Son: Because Bitcoin is the hardest money, the greatest monetary and technological revolution since the Internet itself. It's not a fad.

Dad: I also believe that Bitcoin will not go away.

Son: Bitcoin is here to stay — that's for sure – and it will transform money, the Internet and so much of the world around us. It's just starting...

#Bitcoin

Son: Dad, Bitcoin is my Ikigai.

Dad: Son, okay, but tell me, what is an "Ikigai"?

Son: "Ikigai" is a Japanese concept referring to something that gives a person a sense of purpose, a reason for being.

Dad: Sounds spiritual... Maybe that is the reason why Bitcoin is changing many positively.

#Bitcoin

Dad: Son, it's too early for mainstream adoption.

There are otherwise intelligent people who still think Bitcoin is going to zero.

Son: Hi Dad,

Yes, we are so early.

In the year 2050 “Bitcoin is crashing from $20 million per coin to $19 million per coin!

It’s going to zero! I has no intrinsic value!”

Dad: Son, not sure that I will live to see it.

I would be over 100 years old.

#Bitcoin

Dad: Son, I met my banker and asked him about Bitcoin. He is not convinced and said it will go to zero.

Son: Hi Dad,

Did you know that banks could soon become redundant? Certainly, he does. These "wealth managers" are funny people.

One day, they inform you that the price will go higher than USD $300,000 and the next day they warn you that you could lose all your money.

Dad: Son, thanks to negative interest rates, even a one-tenth of a percent increase in value would outperform the bank's value proposition.

Son: I wonder why banks still exist. Nowadays, people walk around "with a Swiss bank in their pocket".

#Bitcoin

Dad: Son, how can you make a month's salary last forever?

Son: Hi Dad,

That's a damn good question!

I have no idea. Tell me!

Dad: It is quite simple.

Turn it into bitcoin.

#Bitcoin

Son: Daily reminder: Dad, no one is coming to secure your wallet's recovery seed words for you. ;-)

Dad: Son, thank you for helping me to help myself.

With a Cryptosteel, it was done in no time.

Thank you for the recommendation and the "TEACH_ME_BITCOIN_SON_CS10 " coupon code.

Son: You're welcome, Dad. Glad you did it.

Have you secured the passphrase too?

Dad: Yes, I did. Got a "Capsule Duo".

#Bitcoin

Dad: Son, since the Bitcoin price is tied to the collapsing fiat system, what would the value of Bitcoin look like after the collapse?

Being decentralized and all, who would assign the value?

Son: Hi Dad,

Some use gold as metric.

I prefer 1 BTC = 100,000,000 sats.

Just focus on how many sats you can buy.

Bitcoin prices are determined by the market in real time. Goods and services will soon be denominated in bitcoin or sats.

#Bitcoin

Dad: Son, how is your trade going?

Son: Dad, is it you?

#Bitcoin

Dad: Son, what is a "block explorer"?

Son: Hi Dad,

A block explorer is a website, a tool, that is used to view bitcoin transaction details, unspent transaction outputs (UTXO) and addresses online.

Dad: So, is it something like a blockchain browser??

Son: Yeah, a blockchain explorer can be used to follow transactions in the graph until they end in an unspent output, an UTXO. These UTXOs are the actual bitcoin, the "data which have value".

Dad: Let's play a game. Who will find the address with the most bitcoins – you or me?

#Bitcoin

#Bitcoin

Son: Dad, you don't have to be an expert to buy bitcoin.

Dad: ... the expert said. ;-)

#Bitcoin

Son: "My name is ██████ and it's been zero days since I bought some bitcoin."

Dad: Son, are you okay?

Son: Yeah, I just can't get enough.

#Bitcoin

Son: Dad, get quality over quantity bitcoin.

Dad: Son, what do you mean?

Son: Bitcoin with your identity or bank account is a liability.

Dad: Son, how so?

Son: These funds are directly linked to your personal information. Privacy gone. It's better to keep your Bitcoin transactions private and separate from your personal information.

If your identity or bank account information is compromised, it can make you a target for hackers or even put your financial security at risk.

#Bitcoin

Dad: Son, when will all 21 million BTC be mined?

Son: Hi Dad,

All 21M bitcoins will be mined by 2140, but more than 98% will be mined by 2030.

Act accordingly and stack some sats today, tomorrow and the day after.

#Bitcoin

Son: Dad, don't forget to invest in your friendships. Tell your friends about Bitcoin today.

Dad: Son, what is the easiest way to get someone to start using Bitcoin?

Son: Dad, onboarding friends to Bitcoin is like 1-2-3.

1. Install BlueWallet on friend's mobile phone.

2. Create a wallet and get a receiving address.

3. Scan the QR code and send $10 worth of sats.

Dad: So, it costs me $10 to orange pill a friend?

Son: Dad, orange pilling is priceless!

#Bitcoin

Dad: Son, what do you mean by "stacking sats" exactly?

Son: Hi Dad,

To me, "stacking sats" is the act of converting an inferior asset into a superior one, namely bitcoin.

Because stacking sats is done often and mostly on a regular basis, this result is a fraction of a bitcoin, measured in "sats".

One bitcoin can be divided into 100,000,000 Satoshis, or "sats" for short.

Dad: Son, let us stack some sats together!

#Bitcoin

Dad: Son, why not use gold as store-of-value?

Son: Hi Dad,

Bitcoin is the decentralized financial network.

It allows individuals worldwide to store and send value to one another without intermediary agents like banks or payment processors.

Dad: Okay, well, that sounds promising.

Son: It's a technology that will transform the world.

Gold can't compete with Bitcoin.

#Bitcoin

Dad: Son, who is the CEO of Bitcoin?

Son: Hi Dad,

There is no "CEO of Bitcoin".

Bitcoin is an open, collaborative project that no company or government controls, belonging to the people.

Dad: Son, but someone must have launched it.

Son: Satoshi Nakamoto is the presumed pseudonymous person or group who developed bitcoin, authored the bitcoin white paper and launched the network.

#Bitcoin

Dad: Son, what if the Opendime is lost?

Does the Opendime also have recovery words?

Son: Hi Dad,

An Opendime is made to change hands, like cash.

The private key is generated on the device, and without breaking the seal by pushing a pin through the hole marked on the back of the Opendime, there is no way to back it up.

Dad: And if I break the seal?

Son: Then the private key will be revealed in the private-key.txt file and QR code image. There is no way back, and once unsealed, you should move the funds into another wallet.

#Bitcoin

Dad: Son, why do you not use numbers based the word’s indexed number in the BIP39 list instead of the first 4 letters of the recovery word?

Son: Hi Dad,

That's a good question. Let's quote the BIP39 creators to answer it.

"A mnemonic code or sentence is superior for human interaction compared to the handling of raw binary or hexadecimal representations of a wallet seed. The sentence could be written on paper or spoken over the telephone"

I think it is wrong to use numbers when the creators intentionally designed the standard so that we use words.

Dad: Ok, makes sense. Thanks.

#Bitcoin